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I have received the same email from MBT. Looked OK to me but I did not click on any of the links and I did not get a box asking for my password. I only enter my login or password information when logging into my account through MBT's website.

I think MB Trading also offers the universal accounts like IB. I think MB Trading additionally offers securities only, commodities only, and FX only accounts.

Since the MF Global failure, my assumption is the staff of Interactive Brokers researched SIPC coverage requirements and found the best way to revise client universal accounts to allow clients to choose how to handle the movement of excess cash within the universal accounts; However, I agree...

When there is again a need to resolve a problem, Interactive Brokers again quickly figures out how to come up with a solution which is even better than what we had prior to the problem. Thanks IB.

By logging into "Account Administration" > "Excess funds sweep" and selecting "Sweep excess funds into my IB securities account" it seems to me that IB gives you as much SIPC coverage as can be achieved through a single broker. For my "selection" I chose "Do not sweep excess funds" as I am for...

I have done several broker to broker transfers and all of them involved stock transfers with cash. For the receiving brokers, they considered the transferred shares as being purchased on the date received and at the closing price the day before being received. This messed up my tax lots and...

I would first go to all cash at FirstTrade. Then I suspect you will you will be best served by doing an account transfer to IB and pay the $50.00 fee to FirstTrade. You might be able to simply do a wire transfer of the all cash position from First Trade to IB but I have my doubts.

I agree with your statement and I did not say, imply, or think Penson management is trying to do what is best for their clients or employees.

That seems likely and would probably be the best outcome for Penson clients and employees. Penson needs new management at the top level that makes better decisions.

Recent news I have read said Penson is in the process of selling or shutting down all of its non US branches in a effort to reduce losses, raise capital, and restore profitability. Approximately two weeks ago a news release said Penson's credit rating was downgraded to B-. Penson's 43 million...

To me it seems fair that what the government is willing to do for securities accounts they should be willing to do for futures accounts. I see your point. We could regret what we ask for if FCM's were charged a fee much higher than what is currently paid for SIPC coverage for securities...

Yes if it has as little effect on commissions for the amount of coverage as SIPC does for securities.

It seems to me these changes in account regulations are SIPC self-serving to limit SIPC payouts in claims. The way I see things, clients should be able to move their excess funds from futures accounts to securities accounts when the clients wish (clients signing up for a universal account are...

Seems most thought MF Global was safe until it started unraveling a few weeks back.

As of now, I have received no statement or information from MBTrading/Pesion.

I hope IB will allow clients to issue cash transfer instructions through account management to move excess funds from the futures account to the universal account.

For combined account totals much larger than $500K, it might be safer to have $500K in the SIPC insured universal account and the rest of the funds in the segregated futures account (in contrast to all available funds be swept into the universal account and exceeding the limits of the SIPC...

Do you think this is because Jerry does not want to offer a QT like program or do you think this is because he sold QT to TDAT and the non compete agreement will not allow him to offer a QT like software program?

I think this change is most likely the result of a forced change by the SEC on Securities brokers due to the SIPC insurance (all being the fallout of the ongoing MF Global fiasco/sham).

Yes, they swept the excess unneeded cash back to my securities account each night the same as my IB account. This change nullifies one of the reasons for having accounts at IB and MBTrading.